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. mario monti says german chancellor angela merkel doesn't want italy's center left party to win the elections this weekend. the outgoing prime minister said merkel feared a consolidation of parties from the left, especially in an election year for her. the german leader has so far refrained from commenting on the election. what does all of this mean? julia joins us now from milan. julia, i have to confess, i don't really understand what monti's point is here. >> well, you know, we have to give it a bit of context, kelly. this was in response to something berlusconi said about the possibility that mario monti had already signed an agreement with the democratic left party, the democracy party mr. bersani with the agreement with angela merkel. i don't think mario monti has hidden the fact that he's concerned about the influence, particularly the power of the union on the democratic party. if we look on the german side, the foreign minister said what they want ultimately is a party that's going to continue with the reforms, that's going to continue with the fiscal consolidation. i'm
are repayments, repayments scheduled, the election in germany and we all know, i believe that angela merkel will be re-elected, but those are the sort of big things that i'm looking at to see how the markets will react. >> let me switch gears to ask you your take on the banking sector. i know you're on the board of barclays so i'm not asking to give away any secrets here, but there's a real movement across the world to split up some of these banks. how do you think this is going to go? are you expecting a global standard when it comes to the financial services sector? what's your take on how the major banks change the course of business in the coming years? >> well, maria, i'm sure you're aware that, obviously, i have restrictions about what i can say, but i think that the story in general since 2009 has been one of global standards. i know christ ianella guard has spoken about this going back to the g-20. a lot of discussion about coming together. there's a lot of conversations going on in the background that are aiming to have some convergence around these issues. remember, these economie
on the american embassy. vice president biden is in europe. he met angela merkel today. he now heads to a major security conference by chance in munich with dozens of heads of state and 70 defense and foreign ministers. that will be key. the situation in turkey as it is with iran, may upgrade nuclear facilities and he'll also meet syrian opposition leaders. a lot going on in terms of defense and politics. let me mention one more to you. today it was announced gili is taking over that manufacturing base for just $17 million. carl, it's what they call the third wave of globalization where former emerging or developing economies -- india and china -- now come back into the main stream, into western europe or america and buy those branded assets. in particular of course land rover bought by the indians. back to you. >> all i know is great leg room. you got a lot of leg room in those. >> more expensive i'm afraid. >> good weekend, simon. >> you too. >> let's check on energy and commodities. sharon epperson has a lot of news today. >> there is a lot of news. there's a lot of correlation too between w
in italy said he was shaken by the news, while the chancellor angela merkel said she respects his decision. and david cameron sending his wishes. it comes in a meeting this morning, he announced this decision to leave the papacy at the 28th of february at 8:00 at night. it was a decision made without consulting anyone. there was a lot of surprise. and also, the spokesman, when he made a speech -- or when he had a press conference just a few hours later, he said, you know, we need some time, we need some days to try to better understand how to move forward. just to better understand what's going to happen afterwards, is that there will be a conclave of 118 cardinals that will be electing the new pope. so clearly what happens between now and then, really, is that the pope will continue doing what he has done so far. his decision was unexpected. and the way he announced it was very, very simple. he said he doesn't feel he has the strength, mental and physical and spiritual, to move forward in this position. he needs the physical strength that he does not have. he has been ill. his health has
Search Results 0 to 3 of about 4